Let’s go back to the middle of May when Your Mama discussed the ocean front house in Malee-boo that actor MicahelMadsen was trying to sell lickety split before his bank started foreclosure proceedings. Madsen’s kinda shabby house was one the market for $9,950,000 and he was looking to have someone take the house off his sad little hands almost immediately, before the bank foreclosed on the house.

We’re sorry to say that there was no quick sale at a high price, the bank foreclosed, and the house is back on the market for a $7,800,000, a substantial price reduction, and probably a more realistic price.

Your Mama has no idea why Mister Madsen, who is the brother of Oscar nominated actress Virginia Madsen, did not have the money to make his mortgage, particularly when his IMDB resume is littered with recent projects that surely brought in a substantial amount of dough. Sad.

As you may recall, this house once belonged to Ted Danson, before he moved up in the world of Malee-boo real estate and purchased a home in The Colony in the year 2000. The couple have recently placed the house on the market, again, at $18,500,000.

Anyhoo, Your Mama wisher Mister and Missus Madsen well as they search for and move into a more affordable home.